Monday 26th November 2012: PANalytical, Almelo, The Netherlands: Spectris plc (“Spectris” or the “Company”) (LSE: SXS), the productivity-enhancing instrumentation and controls company, today announced that it has signed an agreement to acquire ANALYTICAL SPECTRAL DEVICES Inc. (“ASD”), a leading manufacturer of Near-Infrared (NIR) instrumentation solutions and applications expertise for materials measurement and research, for a debt and cash-free net consideration of $14 million (approximately £8.8 million). The consideration will be met from existing cash and bank facilities and is subject to routine balance sheet adjustments. Spectris expects the acquisition to complete before the end of the year upon ASD shareholders’ approval.
In addition, a contingent consideration of up to $19 million (£11.9 million) may become payable to the sellers, based on achieving growth in sales targets for the 36-month period ending 31 December 2015.
The acquisition of ASD is in line with Spectris’ established strategy of growing and strengthening its businesses via acquisition of complementary businesses. ASD will become part of the Materials Analysis segment and will be integrated with PANalytical.
Jim Webster, Spectris’ Business Group Director, commented: “ASD’s successful NIR solutions for the Remote Sensing, Mining and other Industrial markets complement and extend PANalytical’s offering towards scientific and industrial customers and will add a new contiguous product line with portable, handheld, benchtop and online products. Furthermore, the acquisition of ASD will provide strong synergies in the combination of both companies’ technologies, customer support capabilities and distribution channels.”
ASD, based in Boulder, CO (USA), employs around 50 people. PANalytical is the world's leading supplier of instrumentation and services for X-ray diffraction (XRD) and X-ray fluorescence (XRF) spectrometry, with more than half a century of experience. The company offers analytical equipment for industrial and scientific applications as well as for the semiconductor market.
About PANalytical
PANalytical is the world’s leading supplier of analytical instrumentation and software for X-ray diffraction (XRD) and X-ray fluorescence spectrometry (XRF), with more than half a century of experience. The materials characterization equipment is used for scientific research and development, for industrial process control applications and for semiconductor metrology. PANalytical, founded in 1948 as part of Philips, employs around 1000 people worldwide. Its headquarters are in Almelo, the Netherlands. Fully equipped application laboratories are established in Japan, China, the USA, and the Netherlands. PANalytical’s research activities are based in Almelo (NL) and on the campus of the University of Sussex in Brighton (UK). Supply and competence centers are located on two sites in the Netherlands: Almelo (development and production of X-ray instruments) and Eindhoven (development and production of X-ray tubes). A sales and service network in more than 60 countries ensures unrivalled levels of customer support.
PANalytical is part of Spectris plc, the productivity-enhancing instrumentation and controls company.
Visit our website at www.panalytical.com for more information about our activities.
About SPECTRIS
Spectris plc is a leading supplier of productivity-enhancing instrumentation and controls. The Company’s products and technologies help customers to improve product quality and performance, improve core manufacturing processes, reduce downtime and wastage and reduce time to market. Its global customer base spans a diverse range of end user markets. Spectris operates across four business segments which reflect the applications and industries it serves: Materials Analysis, Test and Measurement, In-line Instrumentation and Industrial Controls. Headquartered in Egham, Surrey, England, the Company employs approximately 7,800 people, with offices in more than 30 countries.
For further information please contact:
Peter van Velzen, Managing Director
Tel: +31 546 524 301